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Ecuador Political News

7/18/09 – Ecuador warned over two oilfield seizures

“Ecuador warned over two oilfield seizures
Financial Times, July 18, 2009

“Ecuador’s seizure of two oil concessions operated by Perenco exposes the state to ‘billions’ of dollars in compensation claims, Rodrigo Marquez, head of the group’s Latin American division, said yesterday. … ‘We’ve been expelled and our assets have been taken over,’ Mr Marquez told the Financial Times. ‘They are trying to say they did not really take over the facilities because they did not send the army in, but before we were due to start the suspension of activities government officials went in . . . and started to persuade the employees not to carry out their instructions. You would appreciate that an employee caught in that situation would feel intimidated,’ he said.”
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